Today In Retail: Amazon Postpones Fulfillment Fee Increases; Shoppers In Italy Embrace Cash-Back Effort

In today’s top retail news, Amazon is delaying its logistics charge increases, while consumers in Italy are embracing a new cash-back effort for card payments. Plus, Peloton has moved to remedy its manufacturing and order backlog hurdle by acquiring Precor. 

Amazon Puts Off Merchant Fulfillment Fee Hikes Until June

Amazon is putting off its logistics charge hike to help accommodate companies impacted by COVID-19 per a company letter by Amazon Worldwide Consumer CEO Jeff Wilke. “We are doing this because we want to provide stability and support for you during what will likely remain a challenging winter as vaccine distribution gets underway,” the executive said in the letter.

Italian Shoppers Embrace New Cash-Back Program For Credit Card Payments

Consumers in Italy are embracing a new government effort designed to strengthen retail sales while tamping down on tax evasion that lets purchasers get a 10 percent reimbursement on card payments conducted in brick-and-mortar venues. Approximately 1 in 10 of Italy’s adults have signed up for the effort per a published report.

Peloton’s Latest Workout: Putting Delivery Delays At The Back Of The Class

Connected fitness product provider Peloton has moved to fix its manufacturing and order backlog challenge by buying Precor of Finland for $420 million. Investors praised the announcement to bolster capacity. Peloton said in a statement that it will add 625,000 square feet of U.S. manufacturing space in addition to a workforce of roughly 100 R&D staffers.

Data: 70 Pct Of North American CFOs Expect Economy To Improve With COVID Vaccines

Chief financial officers (CFOs) participating in The CFO Survey by the Federal Reserve Banks of Richmond and Atlanta in addition to the Fuqua School of Business of Duke University are “reasonably optimistic about 2021,” according to one of the study’s leaders. The CFOs provided an average number of 71 on a scale of 0 to 100 when asked to rate their optimism for their own companies’ economic futures. The survey data was collected between Nov 30 and Dec. 11.